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KUALA LUMPUR - CBL International Limited (NASDAQ: BANL), a marine fuel logistics firm, has announced a share repurchase program authorizing the buyback of up to $5 million or 5 million of its ordinary shares. The repurchase program is set to take place in the open market, depending on market conditions and the company’s needs, with a potential expiration date of April 15, 2028. The initiative highlights the company’s confidence in its long-term business potential, as expressed by Dr. Teck Lim Chia, the Group’s Chairman and CEO.
In the financial year ending December 31, 2024, CBL International reported a substantial increase in revenue, reaching $592.52 million, a 35.9% rise from the previous year. This growth was attributed to a 38.1% increase in sales volume, new customer acquisitions, and an expanded supply network that now includes bulk carriers and oil and gas tankers. However, InvestingPro analysis reveals challenges in profitability, with a gross profit margin of just 0.91% and negative earnings per share of -$0.14 over the last twelve months. Get access to 5 more exclusive ProTips and comprehensive financial metrics with an InvestingPro subscription.
The company aims to continue expanding its market presence, with a particular focus on biofuels and enhancing its global supply network. CBL International is also committed to operational efficiency and sustainable growth, as it seeks to strengthen its market position through strategic port expansions and partnerships with key industry players. With a market capitalization of $25.44 million and an Altman Z-Score of 5.93, the company maintains financial stability despite current profitability challenges. InvestingPro’s comprehensive financial health assessment indicates areas for improvement, with an overall financial health score currently rated as WEAK.
Established in 2015, Banle Group, through its listing vehicle CBL International, operates as a bunkering facilitator across major ports in over 14 countries. The Group has been recognized for its commitment to sustainable fuels, holding both ISCC EU and ISCC Plus certifications.
The forward-looking statements included in the company’s announcement contain projections and estimates regarding the company’s future business prospects. However, these statements are not guarantees of performance and are subject to risks, uncertainties, and assumptions. CBL International has made it clear that these statements should not be relied upon as predictions of future events, and actual results may differ materially from those projected.
This news article is based on a press release statement from CBL International Limited.
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